Staff Reports
Oh boy, get ready for some White House drama! Fitch Ratings recently threw a major curveball and downgraded the United States from AAA to AA+. Oh boy, the fireworks are flying at 1600 Pennsylvania Avenue! The White House is pointing fingers, blaming the MAGA Republicans and even calling it a “Trump downgrade.” Can you believe it?
Now, before we get all caught up in the finger-pointing frenzy, let’s take a step back and look at the bigger picture. Fitch Ratings didn’t just wake up one day and decide to downgrade the US because of four years of Donald Trump. Oh no, my friend, this goes way back. Fitch Ratings pinpointed some serious issues that have been brewing for the past two decades. And guess what? They’re right on the money!
First and foremost, Fitch Ratings slams Congress for their complete lack of control when it comes to tax and spending measures. Can you imagine? Our elected officials can’t even figure out how to balance a checkbook! It’s no wonder our country’s finances are in shambles. And let’s not forget about those big-ticket welfare programs like Medicare, Medicaid, and Social Security. Fitch Ratings had the audacity to call them out for their spending and funding issues. Can you believe the nerve?
But here’s the kicker, folks. No one, and I mean no one, seems interested in finding a solution. The last time anyone even dared to touch Social Security was good ol’ George W. Bush, and he got the third degree for it. And let’s not forget about the debacle that is Obamacare. Thanks, Barack Obama, for giving us a healthcare system that’s about as affordable as diamond-encrusted gold toilets. Way to go!
But wait, there’s more bad news. Fitch Ratings predicts that the Federal Reserve will continue hiking up those interest rates, which will only make things worse for our already struggling economy. They even go so far as to predict a mild recession in the near future. Yikes! Talk about a slippery slope.
Now, before you start spiraling into a pit of despair, Fitch Ratings does offer a glimmer of hope. They say that the US can turn things around by implementing a fiscal adjustment to address the rising mandatory spending or by simply getting our act together when it comes to governance. In other words, stop spending like drunken pirates on a wild night out and start getting our fiscal house in order. It’s not rocket science, folks.
Fitch US Credit Downgrade Should Be a Wake-Up Call: by Michael Busler at CDN –
Fitch Ratings, which is one of the three major credit rating agencies, just downgraded the U.S. debt from AAA to AA+. The last time this happened was 2011 when the debt… https://t.co/2r0qFaJQLy pic.twitter.com/M1qEPgOqC1
— Conservative Daily News (@CDNPosts) August 3, 2023
But of course, leave it to the press to cherry-pick one comment from Richard Francis, the co-head of Americas Sovereign Ratings at Fitch Ratings. They latched onto his mention of January 6 as an example of the deterioration of public governance. Typical. They conveniently forget that Fitch Ratings is looking back two decades, not just at one event. But hey, why let facts get in the way of a good story, right?
Look, it’s time for some tough love, America. We’re on a dangerous financial path, and it’s time to hit the brakes. We may have a strong economy, but our budget and leadership are abysmal. We need to work together to maintain our exceptionalism because, let’s face it, no political party has a monopoly on good ideas. We need to stop the debt ceiling standoffs, pass a darn budget, clean up the corruption in the executive branch, and get Congress to grow a backbone.
So instead of pointing fingers and blaming “Trump downgrades,” maybe the Biden White House should take a moment to reflect on the seriousness of the situation. It’s time to wake up, sober up, and start taking this downgrade as a wake-up call. We can’t afford to coast on past accomplishments forever. It’s time to roll up our sleeves, get back to work, and reclaim our place as the greatest nation on Earth. That’s the true American spirit, my friends.
